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CC Sabathia decided to stay with the New York Yankees rather than test the free agent market, agreeing yesterday to a new deal that adds $30 million to his existing contract and will pay $122 million over the next five years.

The 31-year-old lefthander had until midnight to opt out of his current agreement, which had $92 million remaining over the next four years in $23 million annual salaries.

The new deal adds a $25 million salary for 2016 and gives the Yankees a $25 million option for 2017 with a $5 million buyout, a person familiar with the agreement told The Associated Press. The person spoke on condition of anonymity because the Yankees had not yet announced the deal.

“My goal the whole time was to be able to finish my career as a Yankee,’’ Sabathia said in a video posted on Twitter. “I look forward to seeing everybody out at the ballpark next year.’’

He retains a hotel suite on trips, a no-trade provision, and the right to buy tickets.

Sabathia agreed to a $161 million, seven-year deal with New York before the 2009 season. He has gone 59-23 with a 3.18 ERA for the Yankees.

Indians land Lowe

The Indians acquired former Red Sox righthander Derek Lowe from the Braves for a minor leaguer, a low-risk move designed to bolster Cleveland’s starting rotation. The Indians got the 38-year-old Lowe, who has 166 career wins over 15 seasons in both leagues, in exchange for lefthander Chris Jones. As part of the deal, the Indians will only have to pay Lowe $5 million of the $15 million he’s scheduled to make in 2012. Lowe signed a four-year $60 million deal as a free agent with Atlanta before the 2009 season. Before the deal for Lowe was announced, the Indians picked up Fausto Carmona’s $7 million option for 2012, but declined Grady Sizemore’s $9 million option, cutting ties with the popular but injury-plagued center fielder . . . The Mariners released former Red Sox reliever David Aardsma.

Johnson staying

The Nationals announced that Davey Johnson will be back as manager in 2012. He took over as Washington’s manager in June, after Jim Riggleman abruptly resigned. The Nationals went 40-43 under Johnson and finished 80-81, in third place in the NL East. Washington general manager Mike Rizzo said, “it became obvious that the Nationals would be best served’’ if the 68-year-old Johnson continued in the role . . . Former Red Sox assistant general manger Josh Byrnes was officially introduced as Padres GM, receiving a five-year contract.

The Mets are putting up a new fence at Citi Field that’s lower and closer to home plate. The team is cutting the field dimensions by as much as 12 feet next season, lowering the fence height to 8 feet all around . . . The Dodgers hired Sue Falsone, 37, as head athletic trainer, making her the first female to hold that job in major professional sports.